Bar Harbor Bankshares, Inc. $BHB Shares Sold by Coston McIsaac & Partners

Coston McIsaac & Partners reduced its position in Bar Harbor Bankshares, Inc. (NYSEAMERICAN:BHB) by 46.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,518 shares of the financial services provider’s stock after selling 35,456 shares during the quarter. Coston McIsaac & Partners’ holdings in Bar Harbor Bankshares were worth $1,257,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BHB. Focus Partners Wealth increased its stake in Bar Harbor Bankshares by 459.8% in the 3rd quarter. Focus Partners Wealth now owns 90,870 shares of the financial services provider’s stock valued at $2,768,000 after buying an additional 74,638 shares during the period. UBS Group AG grew its stake in shares of Bar Harbor Bankshares by 489.9% during the 3rd quarter. UBS Group AG now owns 48,087 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 39,935 shares during the period. Millennium Management LLC grew its stake in shares of Bar Harbor Bankshares by 71.0% during the 3rd quarter. Millennium Management LLC now owns 75,720 shares of the financial services provider’s stock worth $2,306,000 after purchasing an additional 31,450 shares during the period. Silverlake Wealth Management LLC acquired a new position in shares of Bar Harbor Bankshares during the 3rd quarter worth $932,000. Finally, Two Sigma Investments LP grew its stake in shares of Bar Harbor Bankshares by 54.9% during the 3rd quarter. Two Sigma Investments LP now owns 72,541 shares of the financial services provider’s stock worth $2,210,000 after purchasing an additional 25,713 shares during the period. 54.49% of the stock is owned by institutional investors and hedge funds.

Bar Harbor Bankshares Price Performance

Bar Harbor Bankshares stock opened at $34.92 on Friday. The firm has a market capitalization of $584.56 million, a PE ratio of 14.25 and a beta of 0.61. The company has a quick ratio of 0.96, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $33.20 and its 200 day simple moving average is $32.33. Bar Harbor Bankshares, Inc. has a 52 week low of $28.06 and a 52 week high of $36.05.

Bar Harbor Bankshares (NYSEAMERICAN:BHB) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Bar Harbor Bankshares had a net margin of 15.90% and a return on equity of 10.95%. The company had revenue of $47.29 billion for the quarter, compared to analyst estimates of $48.22 million. On average, equities research analysts predict that Bar Harbor Bankshares, Inc. will post 3.67 EPS for the current fiscal year.

Bar Harbor Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 21st will be given a dividend of $0.34 per share. This is a boost from Bar Harbor Bankshares’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.36 dividend on an annualized basis and a yield of 3.9%. Bar Harbor Bankshares’s dividend payout ratio is currently 44.91%.

Insider Transactions at Bar Harbor Bankshares

In other Bar Harbor Bankshares news, Director Matthew L. Caras bought 760 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $34.68 per share, with a total value of $26,356.80. Following the transaction, the director owned 22,894 shares in the company, valued at $793,963.92. This trade represents a 3.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their price target on shares of Bar Harbor Bankshares from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.50.

About Bar Harbor Bankshares

Bar Harbor Bankshares, Inc is a bank holding company headquartered in Ellsworth, Maine, and the parent of Bar Harbor Bank & Trust. The company provides a full suite of commercial and consumer banking products and services, including deposit accounts, residential and commercial lending, wealth management, treasury and cash management, and online and mobile banking solutions. Its subsidiary, Bar Harbor Bank & Trust, operates branches across Maine and eastern New Hampshire, serving both individual and business clients with a focus on community banking relationships.

With roots tracing back to the late 19th century, Bar Harbor Bankshares has built its presence along the coast of Maine, extending from Casco Bay to Downeast communities, and into neighboring New Hampshire markets.